PENGARUH AGENCY COST TERHADAP KINERJA KEUANGAN PERUSAHAAN KELUARGA MENGGUNAKAN TOBIN’S Q & ALTMAN Z-SCORE | Zendy

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PENGARUH AGENCY COST TERHADAP KINERJA KEUANGAN PERUSAHAAN KELUARGA MENGGUNAKAN TOBIN’S Q & ALTMAN Z-SCORE

Author(s) -

Zainul Muchlas

Publication year - 2018

Publication title -

jurnal ilmiah bisnis dan ekonomi asia

Language(s) - English

Resource type - Journals

eISSN - 2620-875X

pISSN - 0126-1258

DOI - 10.32812/jibeka.v11i2.66

Subject(s) - insider , agency cost , stock exchange , business , dispersion (optics) , accounting , principal–agent problem , tobin's q , agency (philosophy) , linear regression , econometrics , monetary economics , financial system , economics , finance , statistics , corporate governance , mathematics , philosophy , physics , optics , epistemology , political science , law , shareholder

This research aims to test the effect of agency cost toward financial performance in family business measured by Tobin’s Q and Altman Z-Score with proxied by insider ownership, dispersion ownership, institutional ownership. This research was conducted at family business firms listed in Indonesian Stock Exchange from 2011-2015. In this research, multiple linear regression analysis were used. The result show the agency cost (insider ownership, dispersion ownership, institutional ownership) simultaneously have a significant effect toward Tobin’s Q, insider ownership and institutional ownership are not significant toward Tobin’s Q, dispersion ownership has a significant effect toward Tobin’s Q, agency cost (insider ownership, dispersion ownership, institutional ownership) simultaneously and partial are not significant toward Altman Z-Score.

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